Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Policy Reform topic
No spam. Unsubscribe anytime.
Minneapolis board repeals and revises a suite of district financial and administrative policies
Summary
The board adopted Resolution 2024-0049 on Dec. 10, 2024, repealing eight policies and revising five (including budget, capital planning, gifts/grants, periodic audit, and fund balance policies); the changes include a minimum unassigned general fund balance target of 8% and effective dates noted in the resolution.
The Minneapolis Public Schools Board of Education voted on Dec. 10, 2024 to repeal eight policies and revise five others as part of Resolution 2024-0049. Director Lori Norvell moved to approve the resolution; the motion passed on a voice vote with eight ayes and one absence.
The resolution repealed Policies 3142 (Internal Service Funds), 3179 (Equipment Replacement), 3200 (Local Funds), 3220 (Federal, State, Local Funds), 3294 (Bond Ratings), 3295 (Cash Flow), 3400 (Banking), and 3432 (Expenditure Reporting). It also amended Policy 3005 (Budget) to clarify preparation, adoption, publication, modification and reporting steps; Policy 3170 (Capital Planning and Budgeting) to require multi‑year plans and an April adoption timeline; Policy 3280 (Gifts, Bequests and Grants) and Policy 3434 (Periodic Annual Audit); and Policy 3700 (Fund Balance) to adopt fund‑balance classifications and a stated minimum unassigned general fund balance target of 8% of the annual General Fund budget.
The resolution text records statutory cross references (for example, Minn. Stat. §123B.10 and §123B.76) and sets the effective date for Policy 3280 changes to July 1, 2025, with other changes effective on the day of adoption. Board officers certified and signed the resolution.
